Monday, July 26


Boston Beer, Earnings, earnings miss, hard seltzer, Markets, MI Exclusive, Truly

Boston Beer Company crashes 26% as executives blame fizzling hard seltzer demand for steep earnings miss

Bethany Biron/Business Insider Beer tumbled more than 25% on Friday after revealing a bruising earnings miss on Thursday. On an earnings call, the Sam Adams maker reported earnings per share were $4.75 versus an anticipated $6.69. Boston Beer's off-target expectations were a function of slowing growth in a maturing market, new competition, and pandemic restrictions, executives said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Boston Beer Company tumbled 26% on Friday after revealing a bruising earnings miss the day prior.On an earnings call Thursday, the Sam Adams maker reported that earnings per share fell 28% short of expectations, coming in at $4.75 versus an anticipated $6.69. Revenue came in at $603 million versus an expected $658 million.Execut...
analyst conference call, Beef, Chipotle, Earnings, Markets, MI Exclusive, Wages

Chipotle soars 13% to an all-time high as digital ordering and return of dine-in customers push revenue to pre-pandemic levels

Chipotle is giving away a Tesla 3. Chipotle Shares in Chipotle soared as much as 12.95% to reach new highs on Wednesday as a bumper second-quarter earnings call showed the fast-casual chain returning to pre-pandemic activity.Revenue came in at $1.89 billion, up 39% year-over-year and a hair above the analyst consensus of $1.88 billion. Chipotle opened up 56 new locations and closed five, capitalizing on a surge of digital sales, which grew nearly 11%, as well as a recovery in in-person dining. Almost half of all sales were digital.The company also saw same-store sales, which excludes sales from new stores, jump 31% year-over-year. Same-store sales had tumbled at the start of the pandemic. Likewise, margins rebounded to 24.5%, driven by price increases and falling beef prices duri...
Earnings, earnings 2021, Finance, Markets, MI Exclusive, Morgan Stanley, Morgan Stanley Stock, stock market, stock market 2021, Trading

Morgan Stanley’s fixed-income sales and trading miss overshadows 2nd-quarter earnings beat

Chairman and CEO of Morgan Stanley James P. Gorman participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City. Neilson Barnard/Getty Images Morgan Stanley posted second quarter earnings that beat analyst expectations in revenue and net income, as its wealth management business began to see the impact of its recent acquisitions of E-Trade and Eaton Vance. But a miss in Morgan Stanley's fixed income and trading business helped add to a pre-market stock decline of about 2% in early Thursday trading.Overall revenue growth of 8% was driven by growth in all of its business units, including institutional securities, wealth management, and investment management services.Here are the key numb...
Bank earnings, Bank of America, Bitcoin, Citigroup, crypto, Earnings, Federa reserve, gold, inflation, Jerome Powel, Markets, MI Exclusive, Oil

US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks moved higher on Tuesday after Federal Reserve Chairman Jerome Powell said the US economic recovery still has further to go before the central bank considers tapering its asset purchases.Powell said the US job market "is still a ways off" from the progress the Fed hopes to achieve, suggesting it w...